Ethereum ETFs eight days of outflows

U.S. spot Ethereum exchange-traded funds ran to eight straight trading days of net outflows by May 20, according to flow data cited by CoinCentral. The withdrawals came during a broader pullback in crypto-linked funds that also hit spot Bitcoin ETFs, which CoinCentral said have recorded roughly $1.3 billion in cumulative outflows since May 14. (coincentral.com) CoinCentral reported that Ethereum spot ETFs shed $28.14 million on May 20 alone. CoinGlass data updated through May 22 also showed negative aggregate Ethereum ETF flows on each trading day from May 13 through May 20, before continuing with further net outflows on May 21 and May 22. (coincentral.com) (coinglass.com) ### Which Ethereum funds were seeing the withdrawals? CoinGlass data showed BlackRock’s ETHA and Fidelity’s FETH among the funds posting repeated redemptions during the stretch. On May 20, ETHA recorded an outflow of 14.64K ETH and FETH lost 757.94 ETH, according to the tracker. The same data showed smaller offsets elsewhere. (coincentral.com) On May 20, BlackRock’s ETHB added 2.08K ETH, but that was not enough to prevent a total net outflow of 13.31K ETH across the U.S. spot Ethereum ETF group. ### How large is the recent Ethereum ETF slide? CoinCentral said the eight-day run extended through May 20, with that session alone accounting for $28.14 million in net outflows. CoinGlass’ tracker shows the streak began on May 13 and included larger daily net withdrawals of 55.84K ETH on May 12 and 40.57K ETH on May 18, followed by 29.26K ETH on May 19. (coincentral.com) By May 22, CoinGlass listed total assets under management for the Ethereum ETF complex at $13.76 billion and market capitalization at $11.92 billion. (coinglass.com) ETHA remained the largest product by assets under management at $7.21 billion, followed by Grayscale’s ETHE at $3.46 billion and Fidelity’s FETH at $1.34 billion. ### How does this compare with Bitcoin ETF flows? CoinCentral said U.S. spot Bitcoin ETFs have posted four consecutive days of outflows totaling about $1.3 billion since May 14. The same report said the weakness in Ethereum products came alongside broader selling pressure in crypto markets, with Bitcoin falling from about $80,000 to below $77,000. (coincentral.com) CoinDesk reported on May 14 that U.S. spot Bitcoin ETFs had suffered a single-day outflow of $635 million, one of the largest daily withdrawals since late January. Decrypt separately reported this week that crypto funds overall shed $1.07 billion, ending a six-week winning streak, with Bitcoin ETFs bearing most of the pressure. (coinglass.com) ### What were analysts and market watchers saying? CryptoQuant analyst Darkfost said in comments cited by CoinCentral that institutional selling pressure “has intensified recently,” pointing to a deeper move into negative territory for the Coinbase Premium Index. LVRG research director Nick Ruck, also cited by CoinCentral, said the decline may reflect “net selling pressure from larger holders.” (coincentral.com) Axel Adler, another analyst quoted by CoinCentral, described the data as showing “zero confirmation from US spot demand.” CoinCentral also said geopolitical tensions involving Iran had added to broader market uncertainty during the sell-off. (coindesk.com) ### What should investors watch next? CoinGlass said its Ethereum ETF flow page was updated through May 22, giving the next daily read on whether the redemption streak continues or breaks. The tracker lists daily flows for products from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Franklin, Invesco and 21Shares. The next trading sessions will show whether U.S. spot Ethereum ETFs can stabilize after the eight-day run cited by CoinCentral, while Bitcoin ETF flow reports will indicate whether the roughly $1.3 billion withdrawal trend since May 14 is easing. (coincentral.com) (coinglass.com)